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We present a tractable generalization of quantal response equilibrium via non-expected utility preferences. In particular, we introduce concave perturbed utility games in which an individual has strategy-specific utility indices that depend on the outcome of the game and an additively separable...
Persistent link: https://www.econbiz.de/10012493212
We present a tractable generalization of quantal response equilibrium via non-expected utility preferences. In particular, we introduce concave perturbed utility games in which an individual has strategy-specific utility indices that depend on the outcome of the game and an additively separable...
Persistent link: https://www.econbiz.de/10012825897
Persistent link: https://www.econbiz.de/10012250750
We present a new approach to studying equilibrium dynamics in a class of stochastic games with a continuum of players with private types and strategic complementarities. We introduce a suitable equilibrium concept, called Markov Stationary Nash Distributional Equilibrium (MSNDE), prove its...
Persistent link: https://www.econbiz.de/10013273776
Persistent link: https://www.econbiz.de/10012052093
This note studies whether any set of finitely supported mixed strategies can be represented as the unique Nash equilibrium of a game. This note shows that if strategy spaces are metric spaces containing infinitely many points, then any set of finitely supported mixed strategies can be...
Persistent link: https://www.econbiz.de/10012934000